Answer: The price of the product must have declined.
Explanation: If the supply for a product increases the supply curve shifts down to the right. With demand for the product unchanged, this will lead to a decline in the price of the product and an increase in quantity.
As can be seen in the figure, Supply curve shifts from S0 to S1, and price falls from P0 to P1.
Answer: Data mining
Explanation:
Data mining is seeking for valid, hidden and likely useful patterns in large data sets. It is about finding previously unknown relationships that exist amongst the data.
Data mining also known as knowledge discovery, information harvesting or knowledge extraction is a multi-disciplinary competence that uses statistics, machine learning, artificial intelligence and database technology. The information gotten from data mining are used for marketing, detection of fraud, and scientific discovery.
Non price competition is competing against others when price isn't the driving force of differentiation. If a local restaurant repairs a new recipe for it's lunch menu it is using the physical characteristic form of non price competition. The restaurant is hoping to differentiate based on the quality and taste of their new lunch item compared with another restaurants.
Answer: Excite
Explanation: Marketing communications on social media can now absorb the 4E framework to improve is operations. The 4E framework objective that applies here is Excite. A business can excite a customer with relevant offers. In this case the restaurant sent Jason a customer loyalty coupon for half off a dessert if he purchases an entrèe. This can entice Jason to purchase an entrèe and thus qualify for the half off special. In turn this could generates more money for the restaurant.
Other 4E frameworks that don't apply to the scenario are:
Educate. Inform customers of possible offerings.
Engage. Communicate with customers on common ground.
Experience. Create a space for customers to have direct / indirect access to the business's products.
According to the matrix of agreeability and influence, the members of a leading coalition for change will be a part of the high agreeable and high influence group, A coalition is a pact or union between people, social groups or states to achieve a common goal, but their members need to have great aceptance for the coalition to work and generates a good response from citizens.
